Nobody can predict exactly how many people will get divorced in Kansas this year. However, it’s logical to assume that a number of spouses will run into property division problems in divorce. A particular issue that often causes delays in settlement is hidden assets. Hiding assets in divorce is not only unfair — it is also illegal.
Recognizing signs that a former spouse may be trying to hide assets is a key factor in resolving a hidden asset problem in a timely manner. One signal that there may be hidden assets is when statements from banks or credit card companies arrive in the mail that are not familiar to one of the spouses. Another tip-off may be that a particular credit card statement shows overpayments toward a balance.
A spouse wishing to hide money can sometimes pull it off by paying more than what is owed on a credit card. Another sign that cash is being hidden is when a spouse claims to be paying back loans supposedly made by family members or friends. If the other spouse was never aware that a loan transpired, it definitely warrants further investigation.
A hidden asset issue is only one type of property division problem that can impede the ability to achieve a fair divorce settlement. Kansas, like most other states, operates under equitable property division guidelines, meaning that the division of property must be fair, which may — or may not — equate to a 50/50 split. Anyone wishing to discuss a particular property (or other divorce) matter can arrange a meeting with an experienced family law attorney.
Source: trustify.info, “15 Signs Your Spouse Might be Hiding Assets from You”, Accessed on March 14, 2018